Examples of JV in a sentence
The maximum number of partners in JV should not be more than two and the lead member of the JV/consortium should meet at least 75% and other member should meet at least 50% of criteria of Annual Turnover and Net Worth criteria as mentioned in paras 1 (ii) and (iii) in Chapter V: Mandatory Eligibility Criteria.
A copy of JV agreement shall be submitted before signing of the Contract, stating the conditions under which JV will function, its period of duration, the persons authorized to represent and obligate it and which persons will be directly responsible for due performance of the Contract and can give valid receipts on behalf of the joint venture, the proportionate participation of the several firms forming the joint venture, and any other information necessary to permit a full appraisal of its functioning.
In case of JV, legal name of each member: [insert legal name of each member in JV]3.
A JV tenderer shall be given opportunity to seek such exemption as a condition of award and signature of contract.
A firm that is a Tenderer (either individually or as a JV member) shall not submit more than one Tender, except for permitted alternative Tenders.